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Business News of Monday, 28 February 2022


Why are some CEOs of SOEs earning more than the president? - TUC boss questions

Secretary-General of the Ghana Trades Union Congress (TUC), Anthony Yaw Baah Secretary-General of the Ghana Trades Union Congress (TUC), Anthony Yaw Baah

The Secretary-General of the Ghana Trades Union Congress (TUC), Dr Anthony Yaw Baah, has raised concerns about the growing pay inequalities across the public service after more than a decade since the introduction of the Single Spine Pay Policy (SSPP).

He said some junior workers in some enterprises earn more than senior workers in others while even some struggling state enterprises pay their chief executive officers (CEOs) more than the President of Ghana.

“The Single Spine Pay Policy was introduced in 2010 to deal with inequalities in public sector pay but after over a decade of implementation of the Single Spine Pay Policy, we are witnessing growing pay policy inequality across the public service,” Dr Yaw Baah stated at the opening of the 2022 National Labour Conference on Monday, February 28 in Kwahu, Eastern Region.

“Some junior officers in some public service institutions are earning much higher salaries than some senior officers in other institutions in the public service.

“In the wider public sector, in fact, some CEOs of some state enterprises are earning much higher salaries than the President of the Republic even though some of these state enterprises are making huge losses.”

He called for a change in the situation by making the reward system fair for all.

Special Guest at the ceremony President Nana Addo Dankwa Akufo-Addo assured the TUC that changes will be effected, particularly to the Labour Act to protect all categories of workers.

“Let me respond to the Secretary-General of the Trades Union Congress by saying that, I recognise the urgency of concluding the review of the Labour Act, and erecting a legal framework that will protect all categories of workers and enable government’s programmes to have a positive impact on the condition of life of the working people of our country.

“One such, potentially the most exciting, is the GH¢10 billion YouStart Programme which is intended to help address youth unemployment in the country. The government has directed financial and technical support towards young entrepreneurs in the country to develop commercially viable businesses and create jobs for other youth,” The president added.